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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Capital to advise
Reuters world's largest international multimedia news agency reported that, Indonesian diversified company PT Delta Dunia Petroindo Tbk said on Thursday it has reached an agreement to buy a coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA) for $550 million.
The owners of BUMA had put the company up for sale in May to private equity firms in Asia after failing to sell it in late 2007, sources familiar with the deal said
Mining services companies are struggling with costs amid slowing growth and slumping metal prices, making them ripe for takeovers, industry analysts said.
The sale was in line with a strategy "to increase shareholder value, and to grow revenue through a new mining and contractor platform, leveraging the ripe coal market opportunities in Indonesia," the firm said in a statement.
The firm said the transaction should be completed in the fourth quarter 2009, subject to obtaining shareholder and regulatory approval.
Newspaper Bisnis Indonesia has reported that local private equity group Northstar Pacific had purchased BUMA and that it could be listed through a backdoor listing after the purchase.
Gunawan Angkawibawa, a director at Delta Dunia, declined to comment on whether Northstar Pacific had a role in BUMA's purchase.
Delta Dunia has appointed Barclays Capital to advise on arranging the financing related to the acquisition.
Indonesia, the world's top thermal coal exporter, is expected to produce about 240 million tonnes of coal this year, slightly up from 238 million tonnes last year.
Source:Reuters
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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- SMC Global Power, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
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- Standard Chartered Bank - UAE
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- Jindal Steel & Power Ltd - India
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- Parliament of New Zealand
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- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
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- The University of Queensland
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- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
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- Indogreen Group - Indonesia
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- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
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- SMG Consultants - Indonesia
- Videocon Industries ltd - India
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- Bulk Trading Sa - Switzerland
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- ASAPP Information Group - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
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- Africa Commodities Group - South Africa
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- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
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- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
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- Commonwealth Bank - Australia
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- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
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- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
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- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
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- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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